President Donald Trump ordered his administration to establish a Bitcoin strategic reserve to hold the assets that have been seized by the government, and he also called for a crypto stock of other types of assets.
At this stage, all the assets envisaged by the order would be those seized in civil or criminal confiscations. Bitcoin will be stored for long -term value in what has been called “Fort Knox Digital”.
“The reserve will be capitalized with Bitcoin belonging to the federal government which was confiscated within the framework of the procedure for confiscating criminal or civilian assets,” said David Sacks, the Czar of the cryptography of Trump, in a press release published on the social media site X.
In a video showing the president signing the order, Trump says about the establishment of the reserve: “made the promise, right?”
The order also pushed government representatives to seek means to add more bitcoin to the reserve, as long as it does not harm the federal budget.
“Treasury and trade secretaries are authorized to develop non -budgetary strategies to acquire additional bitcoin, provided that these strategies do not have additional costs on American taxpayers,” said Sacks.
The assets of the non -bitcoin stock will be any crypto that the Government seizes differently. Sacks has not highlighted any particular name in this category, although some were recently highlighted by the president.
Market reaction
Bitcoin has dropped by almost 5% to $ 85,000 in the minutes that followed the order, perhaps too disappointed that the reserve consists of tokens already held by the government, but – for the moment – does not include new purchases.
Ethereum (ETH), Ripple (XRP), Cardano (ADA) and Solana (soil) are all 4% lower than 8% during the last hour, because the order does not allow new government purchases of these tokens.
Matt Hougan, director of investments in the Bitwise asset management, said in a position that the decision to set up a bitcoin reserve reduces the risk that the government can ever try to prohibit assets, and this “increases considerably the probability that other nations establish Bitcoin strategic reserves”.
But Charles Edwards, founder of Bitcoin Hedge Fund Capriole Investments, described it as “the most disappointing and disappointing result that we could have expected for this week”, arguing that without a purchase plan, the strategy is a “pork in lipstick”.
Update (March 6, 2025, 24:59 UTC): Add the responses of people in the industry as well as price action.
